Spire Wealth Management Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Spire Wealth Management raised its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,346 shares of the company's stock after purchasing an additional 2,388 shares during the period. Spire Wealth Management's holdings in Johnson & Johnson were worth $4,203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $29,000. Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Morgan Stanley upped their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Raymond James Financial dropped their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Bank of America dropped their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $152.25 on Friday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The firm has a fifty day moving average of $153.85 and a 200-day moving average of $153.69. The firm has a market capitalization of $366.33 billion, a P/E ratio of 16.94, a PEG ratio of 2.31 and a beta of 0.42. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The company had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. As a group, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.42%. Johnson & Johnson's dividend payout ratio is 57.84%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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